By Stephanie N. Rotondo
Phoenix, Nov. 26 - Entergy New Orleans Inc. priced $30 million of $25-par first mortgage bonds due Dec. 1, 2052 at par to yield 5%, according to an FWP filed with the Securities and Exchange Commission on Monday.
Interest will be payable quarterly on the first day of March, June, September and December, beginning March 1, 2013. The bonds can be redeemed on or after Dec. 1, 2017 at par plus accrued interest.
Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are the joint bookrunners.
Proceeds from the sale will be used to repay borrowings from the Entergy system and for general corporate purposes.
Entergy New Orleans is a power producer.
| Issuer: | Entergy New Orleans Inc.
|
| Securities: | First mortgage bonds
|
| Amount: | $30 million
|
| Maturity: | Dec. 1, 2052
|
| Bookrunners: | Morgan Stanley & Co. LLC, Citigroup Global Markets Inc.
|
| Coupon: | 5%
|
| Price: | Par of $25
|
| Yield: | 5%
|
| Talk: | Around 5.125%
|
| Call options: | On or after Dec. 1, 2017 at par plus accrued interest
|
| Pricing date: | Nov. 26
|
| Settlement date: | Nov. 29
|
| Cusip: | 29364P 509
|
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